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Business & farm
The next sentence of Pub 535 is "If you own an interest in a
pass-through entity, the trade or business determination is made at that entity's level." For the QBI deduction, the concern is about whether the income is from a trade or business and not whether you are a passive or active participant in the business. For instance, not all rental income is considered "trade or business" because of the typical passive nature of the business activity.
pass-through entity, the trade or business determination is made at that entity's level." For the QBI deduction, the concern is about whether the income is from a trade or business and not whether you are a passive or active participant in the business. For instance, not all rental income is considered "trade or business" because of the typical passive nature of the business activity.
‎June 1, 2019
6:18 PM
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